HIVE Digital Technologies, a provider of blockchain and AI infrastructure, experienced a nearly 6.5% increase in its stock price on Friday, reaching $2.47 per share, which raised its market cap to approximately $530 million. Over the past month, the stock has risen more than 21%, reflecting a broader recovery in Bitcoin mining stocks. This surge was driven by HIVE surpassing 12 exahashes per second (EH/s) in Bitcoin mining hashrate, effectively doubling its output since the year's start. The company is currently generating over $250 million in annual revenue, with expectations to reach $400 million as it scales to 18 EH/s. CEO Aydin Kilic noted that HIVE is mining over 6 BTC daily with a 55% operating margin. Despite challenges in the Bitcoin mining sector due to reduced block rewards and rising costs, some miners are diversifying into AI and high-performance computing, with HIVE repurposing GPUs for AI workloads, significantly boosting its revenue. Read more AI-generated news on: https://app.chaingpt.org/news

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